N R Vandana Tex Industries IPO: Check GMP, Final Day Subscription Status, Allotment And Listing Date

The initial public offering of NR Vandana Tex Industries Ltd. which opened for subscription on May 28, will close for bidding on Friday, May 30. The SME issue continued to receive strong demand from investors, as the issue was booked 5.22 times on Thursday. On its final day, the demand for the IPO continues to garner investor attention with an overall subscription of more than 100 times so far.

Incorporated in 1992, the Kolkata-based NR Vandana Tex Industries Ltd. operates on a B2B model. It specialises in designing, manufacturing and wholesale distribution of a wide range of cotton textile products, such as saris, suits and others. It is marketing its products under the Vandana and Tanya brands.

Here's all you need to know about the SME IPO of NR Vandana Tex Industries.

The IPO has been subscribed 100.09 times as of 4:20 p.m. on Friday.

• Qualified Institutions: 36.54 times

• Non-Institutional Buyers: 126.70 times

The subscription status will be updated at regular intervals.

According to InvestorGain, the grey market premium (GMP) for the NR Vandana Tex Industries IPO was Rs 14 at 2:35 p.m. on May 30. This indicates that the unlisted shares of the company were trading at Rs 59 per share, an estimated gain of 31.11%.

The GMP has shown a sizeable increase on Thursday after trading flat for the last couple of days in the unlisted grey market.

Note: GMP does not represent official data and is based on speculation.

NR Vandana Tex Industries IPO is a book-building issue worth Rs 27.89 crore. It comprises an entirely fresh issuance of 61.98 lakh shares.

The price band for the NR Vandana Tex Industries IPO has been set at Rs 42 to Rs 45 per share.

Retail investors can apply for a minimum lot size of 3,000 shares, amounting to an investment of Rs 1,26,000.

Marwadi Chandarana Intermediaries Brokers Pvt. is the book-running lead manager for NR Vandana Tex Industries IPO, while Cameo Corporate Services Ltd is the registrar for the.

The NSE SME issue will remain open for subscription till May 30.

Allotment status for the NR Vandana Tex Industries IPO is expected to be finalised by Monday, June 2. Following this, refunds to unsuccessful applicants will be initiated, as well as the transfer of shares to the Demat accounts of successful bidders, on June 3.

Shares of NR Vandana Tex Industries are tentatively slated for listing on the NSE SME platform on June 4.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.